Basket with a hole in it (5)

I believe the answer is:

creel

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'basket' is the definition.
(basket for holding fish)

I don't understand the rest of the clue.

(Other definitions for creel that I've seen before include "Lobster trap" , "Bobbin rack" , "Fish-basket" , "Wickerwork basket" , "Angler's wicker basket" .)

I've seen this clue in the Evening Standard.

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